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Finance Watch: More Than $2.5bn In New VC Funding, Capital For Pharma Manufacturing In Africa

Big Venture Rounds For Marea, Iambic

 
• By Mandy Jackson

Private Company Edition: J.P. Morgan raised more than $500m in its first venture fund and the Africa Health Security Investment Plan gained $2bn. Also, Marea launched with $190m, Iambic’s series B expanded to $150m, InduPro raised an $85m series A and Elion closed an $81m series B.

Finance Watch Private Company
• Source: Shutterstock

Investor interest in biopharmaceutical opportunities is slowly but surely improving in 2024, including both private investors and public-sector funders of drug development infrastructure. In mid-month announcements, J.P. Morgan Private Capital announced its inaugural biotechnology-focused venture capital fund with more than $500m, while an initiative to boost pharmaceutical manufacturing capacity in Africa received a $2bn funding commitment.

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